Tagged: export controls

22 Apr, 2024

BIS Emphasizes Need for Reinvigorated Due Diligence Efforts by Exporters

Remarks given by Commerce Secretary Gina Raimondo and Undersecretary Alan Estevez during the 2024 Policy Update Conference sponsored by the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) emphasized the need for organizations to enhance their due diligence efforts to prevent the diversion of restricted commodities to U.S. adversaries, including, but not limited to, the Russian Federation and the Islamic Republic of Iran. ...

Events

4 Mar, 2024

Webinar — Export Controls Compliance: Nuts and Bolts

Webinar: Export Controls Compliance — Nuts and Bolts March 19, 2024, 12 Noon EST SIGN UP HERE The Justice Department, the Department of Commerce’s Bureau of Industry and Security (“BIS”) and the State Department’s Directorate of Defense Trade Controls (“DDTC”) have begun an aggressive civil and criminal enforcement program. DOJ’s National Security Division has announced its intention to prosecute criminal export controls cases. From the...

General

22 Jan, 2024

2023 Sanctions Year in Review and Predictions

As always, I tend to repeat myself. However, one important point needs to be repeated — DOJ is in the midst of launching an aggressive sanctions and export control program against corporations and individuals. DOJ has warned everyone, repeated this message in various speeches and, most importantly, assigned the resources — 25 new federal prosecutors to enforce sanctions and export controls — to back up...

General

7 Dec, 2023

U.S. Government Charges Parties with Violating U.S. Sanctions and Export Control Laws

By: Alexander J. Cotoia currently serves as the Regulatory Compliance Manager at The Volkov Law Group, where he regularly advises the firm and its clients on the latest developments implicating trade compliance concerns. He may be reached at [email protected]; and Daniela Melendez, Associate at the Volkov Law Group she may be reached at [email protected] As we have repeatedly noted in the context of other blog...

General

24 Oct, 2023

The Evolution of the Compliance Profession

One of the benefits of old(er) age is perspective and experience. (As we age, we have to find the positive reasons to tout). If there is one thing (of many) the compliance profession has demonstrated, it is that compliance professionals are nimble. It comes with the territory. Building and maintaining a compliance program, requires compliance professionals to adjust their focus and prioritize resources and time...

Podcasts

12 Jun, 2023

Episode 278 — “The New FCPA”: Sanctions and Export Control Enforcement and Compliance

Last year, the Department of Justice warned global companies of a new, aggressive strategy for enforcement of trade sanctions and export controls. Deputy Attorney General Lisa Monaco stated that sanctions and export enforcement constituted “The New FCPA.” DOJ, the Treasury Department’s Office of Foreign Asset Control (“OFAC”) and the Department of Commerce’s Bureau of Industry and Security (“BIS”) have joined forces to aggressively enforce sanctions...

General

16 May, 2023

Corporate Crime and National Security – The Confluence of Prosecution and Foreign Policy (Part I of III)

To restate the obvious – DOJ has prioritized prosecution of national security crimes. For the business world, every company touches the international economy. Even a domestic company might sell products or services outside the United States, or such companies depend on foreign products or services in their supply chain. It is rare indeed to find a company that is not dependent on one way or...

Events

1 May, 2023

Webinar: “The New FCPA”: Sanctions and Export Control Enforcement

Webinar: “The New FCPA”: Sanctions and Export Control Enforcement Tuesday, June 6, 2023, 12 Noon EST Sign Up HERE Last year, the Department of Justice warned global companies of a new, aggressive strategy for enforcement of trade sanctions and export controls. Deputy Attorney General Lisa Monaco stated that sanctions and export enforcement constituted “The New FCPA.” DOJ, the Treasury Department’s Office of Foreign Asset Control...

Podcasts

20 Mar, 2023

Episode 266 — Joint Compliance Notice Issued on Sanctions and Export Controls Evasion

As we have noted on numerous occasions, the U.S. Russia Sanctions and Export Control Program is unprecedented and a compliance challenge for all organizations. In another unprecedented action, the Justice Department and the Departments of Commerce and Treasury issued a Joint Compliance Note (“JCN”) on the importance of compliance with the Russia Sanctions and Export Control requirement, which provides important descriptions of red flags and...

Podcasts

12 Dec, 2022

Episode 254 — Update on Export Controls and Sanctions: Interview with Alex Cotoia

This week’s show discusses recent developments in the sphere of export controls and sanctions. Alexander Cotoia, Regulatory Compliance Manager at the Volkov Law Group, joins Michael Volkov to explore the the Department of Commerce’s Bureau of Industry and Security (“BIS”) ramping up of export control enforcement, including the new restrictions on China and Russia. In early October, the BIS announced two rules imposing significant export...